The currencies of New Zealand and Hungary aren't on the list of the most popular currency pairs. Financial quotes depend on the economic factors of both countries, but this pair may become quite attractive for traders.
New Zealand Dollar is officially considered to be the national New Zealand currency, it is one of the most sought-after assets on the Forex currency market and is also unofficially known as “kiwi”. If you look on the one-dollar coin, you will see an image of a bird that is very popular in the country. In addition to the domestic New Zealand market, the dollar has a turnover on several islands of the Pacific Ocean surrounding the country. Ticker symbol - NZD. According to the international format, the one-dollar bill equals one hundred cents.
On the territory of modern New Zealand, money as a means of payment arose in the middle of the 17th century, when the first Europeans penetrated the islands. But at that time, the monetary system was chaotic and inflation reigned in the country. Because of the coins being from different countries, there was no single exchange rate and, in general, the monetary system did not exist at all.
At the next historical stage in the middle of the 19th century, the territory within the borders of today's New Zealand became part of the British and French empires. The monetary system was stabilized, although it was not New Zealand’s money. The first New Zealand dollar was issued in 1840 by the United Australian Bank, but at those times, the currency wasn’t recognized as a means of payment.
At the beginning of the 20th century, a New Zealand pound appeared under the new monetary policy. From 1907 to 1934, it was being issued by private banking institutions. In 1936, the National Reserve Bank of the country was nationalized, and immediately began to issue banknotes. Finally, in 1967, NZD made its first appearance, the rate of which was tied to the American Dollar.
HUF is the official currency of Hungary. The ticker symbol is HUF, and the code is 348. This currency was named after the Italian city of Florence, where in the 13th century, the minting of a gold coin, fiorino d’oro (golden florin) began.
For almost the whole 19th century, the currency of the Austro-Hungarian Empire was called the forint in the Hungarian language, and in other languages, it was also called the crown or cruiser, guilder, and florin. From 1927 to July 31, 1946, the national currency of Hungary was penge, and only after this currency, the Hungarian Forint officially appeared in the circulation. Since 2015, the national Hungarian currency began to be freely converted. One hundred fillers are equal to one forint, although from the end of the 90s of the previous century the subsidiary coin stopped its circulation. Its regulator, the Central Bank of Hungary, is engaged in the emission policy of the country.
The rate of one New Zealand Dollar (NZD) today varies around 0.66 US dollars (USD). The popularity of NZD on the Forex market is due to the relatively large volume of transactions with this currency, and due to the production of sheep wool, which is a major factor in the domestic and foreign economy. New Zealand is considered to be the world leader by this indicator. The financial reports on wool production always influence the NZD rate and move the charts in all directions.
Hungarian Forint (HUF) rates are approximately $0.0034. Forints are far from being the most popular currency on the Forex market, and the currency pair of New Zealand Dollar with the Hungarian Forint is called exotic. Nevertheless, some of the traders got attracted to this currency pair and began to open and close deals with it. For one New Zealand Dollar, they offer about 195 forints.